Jul 6, 2011 2:00am EDT
congress basically is a big villain in many different issues. when congress spends money directly on r&d it doesn't do that great of a job. if you're spending money on r&d during wartime because it's inside lated from congress because it's patriotism but if you're working through an institutional structure such as n.i.h. where there is indirect accountability but not direct answering for individual grants and decisions this works quite well and what we need to do as social scientist is come up with more structures of this kind, things like the medicare payments advisory board but set it up in a way where it can work and we can actually preserve enough money in the system to be spending on longer term purposes. another issue i focus on to a considerable degree is demography. we need to think long-term. humankind has never in its history had societies which will be as old as the societies which we're getting now and which will become older with each year. the frightening truth is that we don't even actually know if this works. and what i have in mind is the public choice considerations.
Jul 6, 2011 6:00am EDT
are looking for technology that can make a big impact. many times they are for economic good. a lot of times they are four countries that cannot afford better health care or less expensive ways of getting energy sources to a different part of the world. that is something students are very passionate about. as a professor, you always are having to weigh things out in terms of how you provide the best education for your students to go toward banning their ph.d. you want to make sure they are doing the basic science and technology. it's great to have the final impact in technology or underdeveloped countries or inexpensive health care. we have other programs where the students go and work in other countries in either economics or engineering and science where they try to make an impact locally based on technologies that they develop in clauses or at mit or other places and the young people are excited about that. the bank is so much for your participation. -- thank you so much. [applause] [captions copyright national cable satellite corp. 2011] [captioning performed by national caption
Jul 6, 2011 7:30am EDT
we're going to need your help, folks. there are big issues facing our country right now. i don't have to tell you. we need long-term solutions for our debt and our deficits. we need to invest in education and infrastructure and we need to get our country on track with sustainable energy solutions. just to name is few. we've got a lot of work to do and i know all of you have good ideas. democrats are the party of big ideas and new technology and we want your input. please feel free to give it to us. i know i'm going to have to really push you hard to offer your opinion on the issues that matter to you so, you know, just try to give us a little help. republicans want to take us backwards on the other hand. they think cutting taxes and deregulating everything solves all of our problems. it doesn't matter what the issue is, their solution is cut taxes and deregulate. now, that might make for a good sound bite but it's not good for real people. so we're going to hold them accountable with their wrong-headed ideas. we're going to hold them accountable from today until election day. we're go